Delphi operating loss plunges to $418 million in September

By Caroline Salls

Pittsburgh, Nov. 1 - Delphi Corp. reported a $418 million operating loss for September on net sales of $1.145 billion, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

The figures showed a significant decline from a $94 million August operating loss on $1.524 billion in net sales.

According to the report, the company's operating expenses for September included a $1.214 billion cost of sales.

Delphi also recorded a $418 million interest expense in September and a $396 million loss on extinguishment of debt.

The net loss for September was $794 million, widening from a $100 million August net loss.

Cash and cash equivalents at Sept. 30 were $107 million, compared with $20 million at the end of August.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-44481.

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